City Council people have actually provided approval that is initial imposing stricter demands for where pawn stores could be found. The proposition would avoid brand new pawn shops from opening within 300 foot of churches, domiciles, schools, and general general public areas. The firms additionally could perhaps maybe perhaps not start within 1,000 foot of other pawn stores and companies such as for instance name loan and lending that is payday business collection agencies along with other little loan providers.
The law that is local temporarily in place but last approval is pending until Rock Hill's preparing Commission holds a general general public hearing and makes a suggestion to your council. The five existing pawn stores in the town will likely to be "grandfathered in" and permitted to remain open just because they just do not meet with the brand brand brand new separation needs.
Some pawn store owners in Rock Hill state the brand new legislation will be effective in order to keep their competition out, which will be probably advantageous to their company. Nevertheless, they've beenn't fundamentally meant for the town's grouping of pawn stores with little loan-type organizations simply because they see their industry as retail.
began the pawn that is family-owned a lot more than 20 years back in Rock Hill . As they estimate about 50 % of these company involves lending cash in return for individual products as security, the Teagues say these are generally essentially "recyclers" of products.
They purchase and sell used and new things such as musical instruments and sound gear, firearms, electronic devices, little devices and precious precious jewelry. Their clients, the Teagues say, are not solely visiting to obtain a loan -- one thing much different than clients of companies such as for example name loan and payday financing places. (more…)Read More